(J.T. Foxx talks about Real Estate Scams)
I love real estate, I love entrepreneurialism, and I love everything that comes with it. You know you were destined to do this journey when you have little butterflies running wild inside your belly every morning you wake up. My mentor once told me that passion is something you can’t put inside of you and you can’t take out of you. You either have it or not. I have gone from broke to where I am today on a lot of persistence and learning from my mistakes but one thing is for sure; the game of real estate has drastically changed since I first started 5 years.
I never understood why real estate investors are vilified as sharks, bottom feeders and people who prey on the misfortune of others. Instead we should be looked upon as people who
- Improve neighborhoods and improve home values
- Provide affordable housing
- Provide green housing
- Put American’s and Canadians to work by providing jobs
- Help distressed owners when no one else can or would
Instead of seeing the good in investors, the nay-sayers count our money instead. That’s the reality, investors are hated because how much we make, as 90% of millionaires have become wealthy through real estate and the other 10% use real estate to secure it. I remember the first time I got sued, I had allegedly taken advantage of a distressed couple, apparently they didn’t know they were selling their home to me and they thought were getting a mortgage instead. Well I guess the 23 checks they wrote to me with the word rent would suggest otherwise, wouldn’t you think? Only after they stopped paying rent to me is when I became the bad guy. I ended winning in the end when a judge ruled in my favor but only after over $100K in legal fees it didn’t matter anymore. I have realized in the eyes of the law it’s not about who is right or wrong, it’s about who has more money to outlast the other party and when the other party is getting free legal services it’s hard to commit.
Yes, there are real estate scam artists out there and there are scam artists in every business but it doesn’t mean that all investors are bad. You don’t shut down the orchard when you have a few bad apples. What lawmakers don’t understand is that they are killing the real estate market with the draconian laws instead of making it flourish and getting the economy back on track.
So my advice to you is to, trust but verify. There is no greater business than real estate but you have to be careful because one minute you are the hero and the next you’re the bad guy when the homeowners fail to take responsibility and blames you instead. The dreamers are out of the business and now we are left with the real estate investors. Keep your head up because I know how hard it is to succeed and I can assure you I will always fight for our rights to invest freely because if we don’t fight they won’t be free for long. Once you do make it, there is no greater feeling in the world. There is a lot of room at the top; it’s the bottom that’s crowded.
Together the difference in your success
Reach for the stars